Global benzene prices witness mixed trends last week

12 Jun '14

2 min read

In the week ending June 7, benzene prices showed upward trend in Asia, while they declined in Europe and stayed steady in US in the last week.

In Korea, Benzene prices went up in the last week due to strong demand and higher prices of downstream products in the region. In the early days of the last week, prices were at US$ 1275/ton, higher by US$ 5/ton as compared to the same period of its previous week. Prices were assessed in the range of US$ 1275-1305/ton FOB Korea.

In Japan, Benzene prices showed similar trend as Korea in the week under consideration. Speculators assessed the spot prices of Benzene in the range of US$ 1280-1310/ton CFR Japan. It was assessed at US$ 1310/ton on June 11.

In India, Benzene prices showed similar trend as Korea and Japan in the last week. Benzene prices were spotted in the range of US$ 1285-1315/ton CFR India. They were assessed at US$ 1315/ton on June 11.

In Europe, Benzene prices went down in the last week due to softer demand trends and a sharp fall in contract prices. In the initial days of the last week, prices were at US$ 1325/ton, lower by US$ 25/ton as compared to the same period of its previous week.

Prices were spotted in the range of US$ 1285-1325/ton FOB Rotterdam and on June 11 were assessed at US$ 1335/ton. Contract prices for the month of June were settled at € 977/ton CIF ARA, lower by € 71/ton as compared to the contract prices of May.

In US, Benzene prices were stable in the last week. Prices were assessed in the range of 445-450 (cents/gallon) FOB US. Contract prices for the month of May were settled at US$ 4.57/gallon, lower by 23 (cents/gallon) as compared to that of April and the latest price on June 11 stood at 460 (cents/gallon).

Fibre2fashion News Desk - India

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